Dr Carmichael was appointed as a member of the Regulatory Authority Board in March 2012. He is Chairman of the Regulatory Authority’s Audit and Risk Committee and is a member of the Nominations and Remuneration Committee.

Dr Carmichael was previously CEO of Promontory Australasia. Prior to joining Promontory, Dr Carmichael worked as a company director and consultant to the World Bank, the Asian Development Bank and a number of governments on issues relating to regulatory structure, design and effectiveness, debt management and training.

From 1997 to 2003 Dr Carmichael was the inaugural Chairman of the Australian Prudential Regulation Authority (APRA), with responsibility for regulating and supervising banks, insurance companies and pension funds.

Dr Carmichael’s career includes senior positions in a 20-year career with the Reserve Bank of Australia, seven years as Professor of Finance at Bond University, and appointment to a number of government and private sector boards and inquiries, including the Wallis Inquiry into the Australian financial system.